Wednesday, October 06, 2004
Aisin Seiki to Invest More than $30 Million, Create 56 High-Tech Jobs
Governor Jennifer Granholm today announced $1 million in funding to Handy Township, near Fowlerville for a major economic development project which is expected to create over 50 high-tech jobs. The grant, made available through the Michigan Economic Development Corporation (MEDC) and the Community Development Block Grant program, will help secure a new, 750-acre automotive proving ground and testing center. Japan-based Aisin Seiki Co. Ltd. plans to invest more than $30 million in the project.
"This is a great win for Michigan's automotive R & D industry," Granholm said. "These are the type of high-tech jobs we need to attract in order to grow the advanced automotive manufacturing industry."
The township will use the funding for improvements to public infrastructure including sanitary sewer lines to service the new track and a 24,000-square-foot research center.
Aisin Seiki, headquartered in Kariya City, Aichi, Japan, is a worldwide supplier of auto body parts, drive train components, engine, brake and chassis parts as well as information-related products. In North America, the Aisin Group has 26 manufacturing, R & D and sales centers including the Plymouth-based Aisin World Corp. of America. The company employs 6,400 associates in North America.
The MEDC is able to award up to approximately $50 million in federal CDBG funds each year. There are 1,655 local governments within the state eligible to apply for these funds. Projects are approved contingent upon compliance with state and federal requirements.
"This project is another example of why Michigan was recently ranked among the top ten states in the nation for foreign direct investment," said MEDC President and CEO Don Jakeway. "Our attraction efforts are paying off as we leverage Michigan's core strengths to bring in new investment and jobs."
Handy Township is also contributing $300,000 in support of the project.
"Handy Township appreciates the interest and cooperation we have received from the state of Michigan through the MEDC by financially assisting with our infrastructure needs," said Handy Township Supervisor Cynthia Denby. "This partnership was instrumental in helping to locate the Aisin project within our community."
In her 2004 State of the State address, Governor Granholm announced her plan to make Michigan a global economic powerhouse in the 21st century. So far this year, the Governor and the MEDC have announced the creation or retention of approximately 29,115 jobs as a result of targeted assistance provided by the MEDC.
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life.